Solana Price Prediction: Sideways Momentum
The Solana price prediction showcases the sideways momentum of SOL crypto over the daily time frame chart.
SOL Crypto’s Moving Averages
SOL crypto is attempting to sustain at the 20-EMA to surge above the 50, 100, and 200-days daily moving averages.
Solana’s Year-to-Date Performance
Solana cryptocurrency has gained approximately 95.18% year-to-date.
Solana price prediction highlights the consolidation phase of SOL crypto and the struggle of SOL to surge from the $20 mark. However, buyers in Solana crypto attempted to push the crypto price towards the upper threshold but failed to sustain, and SOL slipped instead. Solana crypto needs to attract buyers to surge towards the upper trendline of the consolidation phase to register its breakout. SOL crypto price had an interesting roller-coaster ride over the daily time frame chart.
Intraday SOL Performance
Solana price was at $19.49 and gained slightly around 0.67% of its market capitalization intraday. Trading volume increased by 49% intraday. This demonstrates that buyers are trying to push SOL crypto upwards. Volume to market cap ratio was at 1.77%.
Will Solana Price Sustain at Upper Threshold?
Solana price prediction showcases the consolidation phase of SOL crypto as SOL struggles to sustain at the upper threshold. However, volume change is below average and needs to grow intraday. Meanwhile, SOL crypto is trying to sustain at 20-EMA to surge above 50, 100, and 200-days daily moving averages.
If SOL crypto sustains at the 20-EMA, then it may surge towards the upper threshold of the consolidation phase to register its breakout. However, buyers need to accumulate at a higher rate to push SOL crypto upwards and sustain there. Solana cryptocurrency has been consolidating inside the horizontal price range of $17.38 and $20.50.
Solana’s Recent Performance
Solana cryptocurrency gained around 3.29% in a week, while it declined by 4.75% in a month. Nevertheless, SOL crypto managed to gain around 19.41% over the last three months while losing 5.03% in the last six months. Meanwhile, Solana crypto price surged by 95.18% year to date. This highlights the recovery phase of SOL crypto in 2023.
Technical Indicators
Technical indicators highlight the upside trend of SOL crypto inside the consolidation phase. Relative strength index (RSI) and moving average convergence divergence (MACD) confirm the upward momentum of Solana cryptocurrency.
RSI was at 47 and is heading towards neutrality. The MACD line is above the signal line after a positive crossover. Investors in Solana cryptocurrency need to wait until SOL crypto sustains at the upper threshold of the consolidation phase.
Summary
Solana price prediction highlights the consolidation phase of SOL crypto and the struggle of SOL to surge from the $20 mark. However, volume change is below average and needs to grow intraday. Meanwhile, Solana crypto price surged by 95.18% year to date. Technical indicators highlight the upside trend of SOL crypto inside the consolidation phase. Investors in Solana cryptocurrency need to wait until SOL crypto sustains at the upper threshold of the consolidation phase.
